Today, Sunday, May 28, 2023, the stage of individual investors’ subscription to the initial public offering of the Flexible Murabaha Finance Company begins, and it ends tomorrow, Monday, May 29.
The company indicated that 2.14 million ordinary shares, representing 10% of the total shares offered for public subscription, will be allocated to subscribers from the retail investor segment as a maximum.
Al-Bilad Investment Company, Al-Bilad Capital, in its capacity as the financial advisor, subscription manager, institutional subscription record manager and underwriter for the initial public offering of the Flexible Murabaha Financing Company on behalf of the company, announced the successful completion of the process of building the order book for the segment of the participating classes that subscribed to the company's shares successfully, and determining the final offering price. At 14.60 Saudi riyals per share.
Al-Bilad Capital said that the subscription coverage rate for the participating groups amounted to 401% of the total offered shares.
Al-Bilad Financial Company, along with the receiving entities, which are Bank Al-Bilad, Riyad Bank, Al-Rajhi Bank, and Al-Inma Bank, completed all the necessary preparations to receive subscription requests from retail investors.
Al-Bilad Investment Company announced at the beginning of May this year the company's intention to offer its shares for an initial public offering and to list its shares in the main market on Tadawul Saudi Arabia, noting that the offering is expected to include the sale of new ordinary shares representing 30% of the company's total shares after an increase its capital.